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Eivind Kallevik at ALUMINUM 2024

Key Information

Norsk Hydro ASA (often referred to as just Hydro) is a Norwegian aluminium and renewable energy company, headquartered in Oslo. It is one of the largest aluminium companies worldwide.[3] It has operations in some 50 countries around the world and is active on all continents.[citation needed] The Norwegian state owns 34.3% of the company through the Ministry of Trade, Industry and Fisheries. A further 6.5% is owned by Folketrygdfond, which administers the Government Pension Fund of Norway. Norsk Hydro employs approximately 35,000 people.[4] Eivind Kallevik has been the CEO since May, 2024, following Hilde Merete Aasheim.[5] Rune Bjerke has been the Chairman since 2024 and Magnus Aakvaag (the grandson of former CEO Torvild Aakvaag) serves as a strategic advisor.

Hydro had a significant presence in the oil and gas industry until October 2007, when these operations were merged with Statoil to form StatoilHydro (in 2009 changed back to Statoil, which is now called Equinor).

History

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First steps with fertiliser

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Financed by the Swedish Wallenberg family and French banks, the company was founded on December 2, 1905 as Norsk hydro-elektrisk Kvælstofaktieselskab (lit. Norwegian hydro-electric nitrogen limited) by Sam Eyde, exploiting a novel technology for producing artificial fertilizers by fixing nitrogen from air. The technology had been developed by the Norwegian scientist Kristian Birkeland. The method is still known as the Birkeland–Eyde process. The process required large amounts of electric energy, and for this, a power plant was built at the Svelgfossen waterfall near Notodden. Later also Rjukan Falls was developed and its power harnessed, in the process establishing the city of Rjukan, establishing the plant Norsk Hydro Rjukan.

Hydro's first factory was built at Notodden (opened in 1907) followed up with another at Rjukan in Tinn Municipality (opened in 1911). Then in 1920 production was established at Glomfjord in Nordland county. In 1930 Norsk Hydro opened a plant at Herøya outside Porsgrunn. To begin with it was to function as a shipping port for the fertilizer as well as a point to import limestone. From 1936 Hydro also started producing fertilizer at Herøya. There was also opened a railway, Rjukan Line, connecting Rjukan with Hærøy. The railway opened in 1909 and consisted of a railway ferry across Lake Tinn, railway again with the Tinnoset Line and a barge ride from Borgestad to Herøya with barge on the Telemark Canal. The canal was superseded by the Bratsberg Line in 1916.

By the 1920s, Norsk Hydro's electric arc-based technology for manufacturing artificial fertilizer was no longer able to compete with the newly developed Haber-Bosch process, and in 1927 the company formed a partnership with the German company IG Farben in order to gain access to this process. By 1945, IG Farben had become a majority shareholder in Norsk Hydro. The plant at Herøya was a direct result of no longer being dependent on immediate proximity to the power sources. This provided the advantage of being able to have the plants and the shipping port in the same location, as was the case with the Herøya plant.

Heavy water production at Rjukan

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Main article: Norwegian heavy water sabotage
Heavy water sample made by Norsk Hydro

The Rjukan plant was the only location in Europe which produced heavy water, a component the Allied powers in World War II feared would be used as part of the German atomic bomb project. At the time, German industrial conglomerate I.G. Farben owned stock in Norsk Hydro, which then produced less than 11 litres (3 US gal) of heavy water per month, and the company was approached to increase its deuterium output to at least 110 litres (30 US gal) per month.[6] Although Norsk Hydro's management had previously refused to supply the heavy water, upon Norway's surrender to Nazi Germany, the company gave up its resistance and agreed to supply 1.5 tons of heavy water per year.[6]

Consequently, Norsk Hydro's facilities were the target of several commando and air raids and a sabotage raid which eventually resulted in the plant's destruction and later reconstruction.

First metal production

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The first steps towards light metal production came in 1940 when Hydro started construction of a magnesium carbonate plant at Herøya, but the German invasion of Norway stopped the plans.

In 1941 the Oslo Consortium (Norwegian: Oslo-konsortiet) invested money equivalent to year 2014 Norwegian kroner 172 million.[7] (The consortium included Thomas Fearnley, Orkla, Fred Olsen, Storebrand, Jens P. Heyerdahl, Klaveness & Co, Christopher Kahrs Kielland.[7]) Collaboration with the Nazi-German regime, did not result in any company employees being convicted (for collaboration) after the war.[7]

During the Second World War Norsk Hydro collaborated with IG Farben and Nordische Aluminium Aktiengesellschaft (Nordag) in building new aluminium and magnesium plants in support of the German war effort. The construction was however ended on July 24, 1943 when an allied bombardment completely destroyed the facilities, killing 55 construction workers. As Germany's defeat became more likely, Norsk Hydro started to tone down its collaborative relations with the occupier.

In 1946 the Årdal aluminium plant was opened, operated by the state owned company Årdal og Sunndal Verk. In a merger, Hydro acquired this company in 1986, in essence establishing the light metal division Hydro Aluminium.

Since 1919, there had been zinc production and then aluminium production at Glomfjord in Northern Norway. Hydro bought the power plant in 1947 and started ammonia production there instead. In the 1950s Hydro opened a new magnesium plant in Herøya and in 1963 Hydro started in cooperation with Harvey Aluminum, building a plant at Karmøy to produce aluminium. The plant, called Alnor, was purchased in whole by Hydro in 1973.

In 2000, Hydro acquired Wells Aluminum, a network of aluminium extrusion plants in the United States.[8] Two years later, the company acquired the leading German aluminium producer Vereinigte Aluminium Werke from the German utility company E.ON and the French building systems company Technal.[9]

Hydro became a truly integrated aluminium company in 2011, when it acquired the aluminium assets owned by Vale in Brazil for $4.9 billion. This gave Hydro the world's largest alumina refinery and aimed to "secure raw materials for more than a hundred years of aluminum production". Hydro gained a large bauxite supply, including control of the Paragominas mine, one of the largest bauxite mines in the world. It also gained large alumina refining and aluminum production capacity, including a 51 percent stake in the Albras aluminum plant and 91 percent ownership of Alunorte, then the world's largest alumina refinery and now the largest outside China.[10][11]

Into the petroleum age

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Main article: Hydro Oil & Gas

In 1965, Hydro joined Elf Aquitaine and six other French companies to form Petronord to perform search for oil and gas in the North Sea. Hydro soon became a large company in the North Sea petroleum industry, and also became operator of a number of fields, the first being Oseberg.[citation needed]

In 1969, Hydro started its first international operations, with a 25% stake in a fertilizer plant in Qatar.[citation needed]

Hydro acquired in the late 1980s the Mobil service stations in Norway, Sweden and Denmark, changing their name to Hydro. In 1995 Hydro merged its gas stations in Norway and Denmark with Texaco, creating the joint venture HydroTexaco. The service station chain was sold in 2006 to Reitangruppen. In 1999 Hydro acquired Norway's third largest petroleum company Saga Petroleum, which had major upstream operations primarily in Norway and the United Kingdom. The British operations were later sold.

Hydro's fertilizer business was spun off as a separately stock-listed company under the name of Yara International on March 26, 2004. Hydro distributed all its Yara shares to Hydro's shareholders and presently has no ownership in Yara.

In December 2006 Norsk Hydro revealed a proposal to merge their oil business with compatriate oil and gas company Statoil.[12] Under the rules of the EEA the proposal was approved by the European Union on May 3, 2007[13] and by the Norwegian Parliament on June 8, 2007.[14] The merger was completed by 1 October 2007. Hydro's shareholders took 32.7% of the new company—StatoilHydro—shares.[13]

Operations

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Aluminium

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Hydro Aluminum plant in Commerce, Texas

Hydro is one of the largest aluminium companies worldwide. In Norway, Hydro has plants in Magnor, Rjukan, Raufoss, Vennesla, Karmøy, Høyanger, Årdal, Husnes, Sunndalsøra, and Holmestrand. Most of the employees in the company work in plants and offices located outside Norway, such as Hungary, Germany and Brazil. Hydro has more employees in the United States than any other Norwegian company.

In 2010, Hydro and QatarEnergy inaugurated their 50-50 joint venture Qatalum, located in Qatar. It was the largest aluminium plant ever launched in one step. Its annual capacity in September 2011 was 585,000 metric tons of primary aluminium,[15] all to be shipped as value added aluminium casthouse products. A 1350 MW natural gas power plant was also built to ensure a stable supply of electricity.[16]

In 2010, Hydro acquired the Brazilian bauxite, alumina and aluminium production assets of Vale, an international mining and metals company.

In September 2013, Hydro combined its aluminium extrusion operations with that of Sapa, making Sapa a 50/50 joint venture between Hydro and the Norwegian company Orkla. Hydro then acquired Orkla's 50% ownership in Sapa in October 2017, taking over the company and turning it into a new business area within Hydro, called Extruded Solutions. The agreed enterprise value for 100% of Sapa was NOK 27 billion.[17]

Energy

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Hydro is a major producer of hydroelectric power in Norway.

To secure electricity for its aluminium production Hydro has signed a power purchase agreement with the Fosen Vind wind farm, which is scheduled to be fully operational in 2020. Under this agreement Fosen Vind will deliver around 0.6 TWh in 2020, around 1.0 TWh annually from 2021 to 2035 and 0.7 TWh annually from 2036 to 2039, for a total of about 18 TWh over a 20-year period.[18]

Hydro Agri

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Though Hydro started off as a fertilizer producer and agricultural products was for a long time one of the companies major ventures, the agricultural division was in 2004 demerged into the independent company Yara International, listed on the Oslo Stock Exchange.

Hydro Global Business Services

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Hydro Global Business Services was founded In 2020 to deliver Finance, IT, and HR services to all businesses within the Hydro company. The largest hub is in Székesfehérvár, Hungary.[19]

Environmental issues

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In February 2018 Hydro was forced to cut aluminium production by 50% in its plant located in Pará, Brazil (operated by the joint venture Albras). This followed allegations that untreated and contaminated water had been released to the environment, resulting in water pollution. A team of local researchers found a clandestine waste pipe and highly elevated levels of aluminum in its proximity. Other substances such as nitrate, sulphate, chloride and lead were also found at abnormally high concentrations.[20] Hydro has since claimed that while some unauthorized spills had happened,[21] their own and independent reports showed no environmental pollution of the river but only a small change in pH.[22]

Chief Executive Officers

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References

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[edit]
Revisions and contributorsEdit on WikipediaRead on Wikipedia

Norsk Hydro

View on Grokipedia
from Grokipedia

Norsk Hydro ASA is a Norwegian multinational corporation specializing in aluminum production, processing, and generation.
Founded in 1905 to harness for manufacturing nitrogen-based fertilizers amid global food shortages, the company pioneered industrial-scale production using Europe's then-largest plant at . Over the subsequent century, Norsk Hydro diversified into production during , oil and gas exploration post-war, and aluminum from the mid-20th century onward, establishing itself as one of Europe's premier aluminum suppliers. Today, it operates across the aluminum —from and alumina to primary metal production, , and —while maintaining significant assets that underscore its commitment to low-carbon operations. With headquarters in and roughly 32,000 employees in over 140 locations, the firm reported key 2024 financials including revenues exceeding NOK 200 billion, bolstered by the Norwegian state's controlling stake of about 34%. Notable achievements include pioneering sustainable aluminum technologies and contributing to Norway's industrial heritage, with early sites at and designated World Heritage landmarks for their role in electrochemical innovation. The company has faced scrutiny over environmental impacts, particularly a 2018 effluent spill at its Alunorte alumina refinery in , leading to fines and lawsuits alleging ; however, a Dutch court in 2025 dismissed all claims against Hydro and its subsidiaries, affirming the company's technical defenses.

History

Founding and Early Fertilizer Operations (1905–1930s)

Norsk Hydro-Elektrisk Kvælstofaktieselskab was established on December 2, , by Norwegian engineer Sam Eyde and physicist Kristian Birkeland to commercialize their newly developed process for . The Birkeland-Eyde process utilized high-voltage s to combine atmospheric and oxygen into , which was then converted into for production, leveraging Norway's abundant hydroelectric resources. Financed primarily by Swedish interests, including the , and French banks, the venture capitalized on the need for synthetic s to address global soil depletion amid rising agricultural demands. Initial operations centered on a facility at , where a had commenced testing the process on May 2, 1905, marking the world's first industrial-scale production of synthetic nitrates. Full-scale manufacturing began in 1907, powered by a newly constructed station that was then Europe's largest, enabling the production of for agricultural use. The energy-intensive method required approximately 30-40 kilowatt-hours per kilogram of fixed , underscoring reliance on low-cost Norwegian waterfalls for economic viability. By 1911, the company expanded with the hydroelectric plant at , which generated 108 megawatts and supported larger arc furnaces for increased output, positioning Norsk Hydro as a pioneer in electrothermal synthesis. Through the and , fertilizer production remained the core activity, with exports of nitrate-based products contributing to Norway's industrial growth and global efforts. However, the process's high energy demands faced growing competition from the more efficient Haber-Bosch synthesis method, introduced around 1910 in , which operated at ambient pressure and lower electricity use. Despite this, Norsk Hydro persisted with arc-based operations at and , producing thousands of tons annually by the late . In , the company opened a facility at Herøya near primarily as a shipping hub for fertilizers and a maintenance site for equipment, reflecting logistical scaling rather than process innovation.

Heavy Water Production and World War II Involvement

Norsk Hydro began heavy water production in December 1934 at the Vemork hydroelectric plant near Rjukan, Norway, establishing the world's first industrial-scale facility for deuterium oxide as a byproduct of electrolytic hydrogen generation for ammonia fertilizer synthesis. By late 1941, under German direction following the April 1940 occupation, daily output reached approximately 4 kilograms, with monthly production at around 100 kilograms by 1942. German forces seized shortly after invading on April 9, 1940, prioritizing the plant due to heavy water's role as a in experimental nuclear reactors for the Uranverein atomic initiated in 1939. protested the production escalation for military purposes, resulting in the arrest of managing director Bjarne Eriksen in early 1943, while plant workers operated under duress but provided intelligence to Allied saboteurs. Allied intelligence identified as critical to preventing a Nazi atomic bomb, prompting sabotage campaigns coordinated by British and Norwegian resistance. Operation Grouse parachuted an advance team in October 1942 to prepare for raids, but in failed when transport gliders crashed in harsh terrain, leading to the capture and execution of surviving commandos by forces. Operation Gunnerside, launched February 16, 1943, culminated in a successful raid on February 27 by six Norwegian commandos under , who scaled a 500-foot gorge, breached perimeter defenses, and detonated explosives in the electrolysis room, destroying 18 concentration cells and approximately 500 kilograms of the substance without alerting guards or incurring losses. Germans restored partial production by May 1943, but U.S. Army Air Forces bombed the site on November 16, 1943, with 140 B-17 and B-24 bombers dropping over 160 tons of munitions, crippling the facility and killing nine Norwegian civilians alongside halting output. As Germans evacuated remaining stocks—about 500 kilograms—aboard the SF Hydro ferry for shipment to , Norwegian saboteurs detonated mines on February 20, 1944, sinking the vessel in Lake Tinnsjø and destroying the cargo, though the explosion claimed 18 lives, including 14 Norwegian crew and passengers. These disruptions severed 's primary supply from , forcing reliance on inferior alternatives and contributing to setbacks in reactor experiments, though the broader nuclear effort faltered due to Allied bombing of other targets, shortages, and internal scientific and organizational deficiencies. Post-liberation in May 1945, Norsk Hydro repaired for peacetime fertilizer operations, ceasing production tied to military applications while later supplying limited quantities for international scientific research under Allied oversight.

Post-War Industrial Expansion into Metals

Following , Norsk Hydro shifted focus from wartime disruptions to industrial diversification, leveraging Norway's abundant resources for light metals production. In , the company initiated magnesium metal production at its Herøya facility, utilizing infrastructure remnants from a failed wartime aluminum effort. This marked Hydro's initial post-war entry into metals, with the electrolytic process converting into primary magnesium, which found applications in automotive components such as the Beetle's engine parts. The Herøya plant's output contributed to Norway's emerging role in light metals, supported by that had increased to majority following the of German-held shares in 1945–1946. By the late , Hydro accelerated expansion into aluminum, aligning with national policies to harness hydroelectric power for energy-intensive smelting. The company's first wholly owned aluminum smelter commenced operations at in 1960, producing primary aluminum via the Hall-Héroult process, with initial capacity focused on ingots and billets. This development followed exploratory collaborations and built on expertise from magnesium operations, enabling Hydro to integrate upstream energy production with downstream . In 1963, formal commitment to aluminum growth was announced, including the plant's expansion to meet rising European demand for lightweight materials in and transportation. These initiatives diversified Hydro beyond fertilizers, establishing light metals as a core segment by capitalizing on low-cost, renewable to achieve competitive production costs averaging below 0.5 per kilowatt-hour. The metals expansion faced challenges from fluctuating global prices and energy dependencies but solidified Hydro's technological edge through in-house R&D, such as improvements in efficiency for aluminum . By the mid-1960s, annual aluminum output from reached approximately 50,000 metric tons, complementing magnesium production that peaked at similar scales before market shifts prompted further adaptations. This period's investments, totaling over 500 million NOK by 1965, positioned Hydro as a key player in Norway's industrialization, though reliant on state-backed developments like the Røldal-Suldal scheme for sustained operations.

Petroleum Diversification and Growth (1960s–1990s)

In the early 1960s, Norsk Hydro initiated diversification into exploration to secure energy sources for its , beginning activities in 1963 through partnerships with international firms. By , the company had secured offshore exploration licenses off Norway's coast and joined the Petronord consortium with and other French entities to prospect for hydrocarbons. This positioned Hydro as a pioneer among Norwegian firms in the nascent sector, leveraging its engineering expertise from prior industrial projects. The 1969 discovery of the Ekofisk field by Phillips Petroleum marked a pivotal moment, with Hydro holding a participating interest as the sole Norwegian partner in this inaugural major find on the Norwegian continental shelf. Subsequent involvement in the 1971 , operated by , further expanded Hydro's footprint, contributing to technological advancements in offshore operations amid Norway's evolving state policy that emphasized national participation following establishment. By the mid-1970s, Hydro commenced refining operations at , initially planned and developed under its auspices with a capacity to process crude, enhancing downstream integration. Through the 1980s, Hydro's petroleum segment accelerated with operatorship of the Oseberg field, where production started in 1988 and yielded significant oil and gas output via innovative subsea completions and predrilled wells achieving up to 80% initial recovery rates. The company amassed interests across key assets, including Gullfaks, , Brage, Snorre, Sleipner East and West, and Heidrun, securing stakes in approximately two-thirds of Norwegian shelf production wells by the early . This expansion included international ventures in , the , , , , , , and , alongside downstream acquisitions such as 300 Danish gasoline stations in 1990 and Mobil's Norwegian marketing system in 1992. Oil and gas revenues propelled Hydro's overall growth, transforming it into a multifaceted energy player while Norway's output surged from initial Ekofisk flows to multibillion-barrel equivalents by decade's end.

Restructuring, Divestitures, and Modern Refocus (2000s–Present)

In 2004, Norsk Hydro demerged its division, which had underperformed in the preceding decade despite a turnaround effort, establishing it as the independent ASA and listing the new entity on the on March 25. This divestiture streamlined Hydro's portfolio by exiting agriculture, allowing greater emphasis on metals and energy sectors. A pivotal occurred in when Hydro merged its oil and gas operations with Statoil ASA, creating StatoilHydro in a transaction valued at approximately $30 billion, completed on October 1. The merger transferred Hydro's assets to the new entity (later renamed Statoil in 2009), enabling Hydro to refocus exclusively on light metals, aluminum production, and related activities, divesting upstream hydrocarbon exposure amid maturing fields. To bolster its aluminum core, Hydro acquired the majority of 's bauxite, alumina, and primary aluminum assets in 2010, integrating them with its existing operations to achieve greater vertical control and expand smelting capacity to over 2.5 million metric tons annually. Subsequent divestitures included the 2006-2007 sale of its U.S.-based Ellenville aluminum tubing unit, incurring $31 million in charges, as part of broader efforts to shed non-core assets. Further operational adjustments followed, such as the 2019 restructuring of Hydro's rolling operations, which targeted annual personnel cost savings of up to €60 million through redundancies affecting up to 500 positions across and the U.S. In line with this refocus, Hydro has prioritized low-carbon aluminum, , and extrusions; its 2030 strategy emphasizes expanding recycled aluminum content to 50% in extrusions and scaling renewable power generation to 10-15 TWh annually. A 2024 strategic overhaul announced a 6.5 billion cost-improvement program, accelerating growth while phasing down battery materials exposure. Recent moves include divesting its full stake in maritime battery firm Corvus Energy for $30 million in 2025, further concentrating resources on aluminum and priorities.

Business Operations

Aluminum Production and Supply Chain

Norsk Hydro maintains operations across the aluminum value chain, encompassing bauxite extraction, alumina refining, primary smelting, casting, rolling, extrusion, and recycling. The company's upstream activities include the Paragominas bauxite mine in Brazil, one of the world's largest integrated bauxite mining operations, which supplies alumina refining at the adjacent Alunorte facility, the largest alumina refinery globally with a capacity exceeding 6 million metric tons annually. Alumina from these sources feeds Hydro's primary aluminum smelters, supplemented by third-party purchases to meet production needs. Hydro's primary aluminum production occurs at smelters in (such as , Årdal, Sunndal, and Husnes), (Slovalco), (Albras), and (Qatalum, with over 600,000 metric tons annual capacity). In , production totals approximately 1 million metric tons per year, powered entirely by renewable from Hydro's own 40 power plants, enabling low-carbon output with emissions below 4 tons CO2 per ton of aluminum at facilities like . Casthouses integrated with these smelters produce ingots, sheet ingots, alloys, wire rods, and high-purity aluminum, with global sales of metal products reaching 2.8 million metric tons in 2018. Downstream, Hydro processes primary and recycled aluminum into rolled products, extrusions, and building systems through subsidiaries like Hydro Extrusions, serving over 30,000 customers worldwide. Recycling operations span 34 facilities in , , and , processing post-consumer scrap to produce low-carbon alloys, with a capacity of 560,000 metric tons by end-2023, emphasizing circularity to reduce reliance on and lower emissions by up to 95% compared to virgin aluminum. This integrated approach secures , with Hydro controlling key raw material inputs and leveraging to differentiate its products in global markets.

Renewable Energy Generation

Norsk Hydro generates renewable energy primarily through hydroelectric power, operating as a key producer in Norway's hydropower-dominated sector. The company's energy operations leverage the country's favorable geography, with steep rivers and high precipitation enabling efficient, low-cost electricity production. As of May 2024, Hydro operates 40 hydroelectric power plants across Norway, delivering a combined output of 13.7 terawatt-hours (TWh) of renewable electricity in a normal hydrological year. This capacity supports internal needs, particularly for energy-intensive aluminum smelting, while also enabling sales and trading in Nordic power markets. The expansion of Hydro's generation portfolio stems from a 2020 joint venture with Lyse Produksjon, merging select assets to form a stronger entity focused on production and optimization. Under this arrangement, Hydro assumed operatorship for Lyse's fully owned plants alongside its existing Røldal-Suldal (RSK) system, enhancing scale and efficiency without altering core ownership structures. Prior to the merger, Hydro managed over 20 facilities producing approximately 10 TWh annually, underscoring the transaction's role in boosting output by integrating complementary assets. Hydro's hydropower generation emphasizes , with facilities designed for minimal environmental impact through modern technology and compliant with Norwegian regulations. This renewable output aligns with the company's strategy to produce low-carbon aluminum, as hydropower accounts for nearly all of Hydro's needs, reducing reliance on fuels and enabling emissions tracking tied to hydrological variability rather than processes. In a typical year, this generation contributes to Norway's overall hydropower dominance, where renewables exceed 90% of national supply, but Hydro's assets represent a targeted industrial-scale operation focused on integration.

Battery Recycling and Emerging Materials

Hydro, through its joint venture Hydrovolt, entered the battery recycling sector in 2021 by partnering with to establish a facility focused on processing end-of-life and industrial lithium-ion batteries. The plant in commenced commercial operations on May 16, 2022, as Europe's largest dedicated EV battery recycling site, with an annual capacity of 12,000 metric tons of battery packs—equivalent to approximately 20,000 batteries. The automated process at Hydrovolt involves discharging batteries, shredding them into components, and separating materials to recover up to 95% of metals such as , , , and , alongside plastics and other secondary raw materials like for further refining. These recovered materials support the for battery production, reducing reliance on virgin by providing high-purity inputs for new cathodes and anodes. Initially structured with Hydro holding 72% ownership and 28%, the venture shifted to full Hydro control on January 13, 2025, following the acquisition of Northvolt's remaining stake for 78 million amid Northvolt's financial restructuring. Despite operational achievements, including processing challenges from longer-lasting EV batteries that delayed full ramp-up as noted in March 2025 analyses, Hydro announced on November 27, 2024, a strategic retreat from battery materials activities. The company ceased further investments and plans to phase out operations over the coming years, citing unviable market conditions and a refocus on core aluminum and energy segments. This decision aligns with broader challenges in the emerging battery materials , where yields remain constrained by inconsistent feedstock availability and competition from primary sources. In parallel, Hydro's exploration of emerging materials has emphasized recycled aluminum alloys and low-carbon variants for battery casings and structural components in EVs, though these remain integrated into its primary aluminum operations rather than standalone battery-focused initiatives. The phase-out of battery-specific ventures underscores Hydro's assessment that scaling secondary materials from has not yet achieved economic viability at industrial levels, prioritizing instead proven decarbonization pathways in aluminum production.

Corporate Services and Other Segments

Norsk Hydro's corporate services encompass centralized support functions that provide shared resources across its operating segments, including finance, , , legal compliance, , and corporate communications. These activities aim to standardize processes, reduce duplication, and support group-wide efficiency, with operations primarily based in and other key locations. In financial reporting, corporate services and eliminations are aggregated outside the primary reportable segments—such as & Alumina, Aluminium Metal, Extrusions, , and Metal Markets—and typically incur net operating losses due to overhead expenses exceeding any internal service revenues. For instance, inter-segment eliminations adjust for transactions like internal power sales or material transfers, ensuring consolidated figures reflect external performance only. Other segments include minor non-core activities, such as certain initiatives not tied to , legacy pension obligations, and occasional projects. These are not to overall but contribute to long-term , including explorations in sustainable materials beyond aluminum. In August 2025, Norsk Hydro announced plans to cut approximately 750 white-collar positions, with significant impacts on functions amid cost-reduction efforts in response to market pressures. The corporate structure emphasizes and , with and compliance units monitoring adherence to Norwegian regulations and international standards like GDPR for data handling across the group.

Leadership and Governance

Chief Executive Officers

Norsk Hydro's leadership as president and has evolved with the company's growth from fertilizer production to a diversified industrial conglomerate focused on aluminum and . The role, initially held by founders and early industrialists, transitioned to professional managers guiding expansions into metals, oil, and modern efforts. The following table lists the CEOs chronologically, based on the company's official records:
TenureName
1905–1917Sam Eyde
1918–1926Harald Bjerke
1926–1941Axel Aubert
1941–1956Bjarne Eriksen
1956–1967Rolf Østbye
1967–1977Johan B. Holte
1977–1984Odd Narud
1984–1991Torvild Aakvaag
1991–2001Egil Myklebust
2001–2009Eivind Reiten
2009–2019Svein Richard Brandtzæg
2019–2024Hilde Merete Aasheim
2024–presentEivind Kallevik
Sam Eyde, the founding CEO, established the company in 1905 alongside Kristian Birkeland, pioneering processes for amid Norway's resources. Later leaders like Egil Myklebust oversaw the restructuring and international expansions, while recent CEOs such as Hilde Merete Aasheim and Eivind Kallevik have emphasized low-carbon aluminum production and strategies amid global market pressures.

Board Structure and Ownership

The of Norsk Hydro ASA comprises 11 members, with shareholder-elected directors forming the majority and three members elected by and from the company's employees, as mandated by Norwegian for firms with over 200 employees to ensure worker representation in governance. The board oversees strategic direction, , and the supervision of the CEO's operations, operating through specialized committees including the , Compensation Committee, and Safety, , and Ethics Committee to address key oversight areas. Following the Annual General Meeting on May 9, 2025, Rune Bjerke serves as chair, with Kristin Fejerskov Kragseth as deputy chair; the composition reflects a balance of industry expertise, with members proposed by the Nomination Committee and approved by shareholders. Ownership of Norsk Hydro is dominated by the , which holds 34.26% of shares through the Ministry of Trade, Industry and Fisheries, exerting significant influence via voting rights at general meetings while adhering to principles of . The Government Pension Fund Norway (Folketrygdfondet) owns 6.95%, followed by institutional investors such as Asset Management at 1.89%; the remainder consists of broad free float among international funds and retail holders, with no single private entity exceeding 2% as of the latest disclosures in 2025.
Major ShareholderOwnership PercentageShares Held
Government of 34.26%688,314,558
Folketrygdfondet6.95%139,587,084
Asset Management1.89%(Not specified in aggregate)
This structure aligns with Norwegian corporate law's emphasis on transparency and minority protections, including mandatory nomination processes that prevent undue concentration of power despite state dominance.

Controversies

Environmental Incidents in Brazil

In February 2018, heavy rainfall exceeding 200 mm in 24 hours struck Barcarena, Pará, flooding Norsk Hydro's Alunorte alumina refinery and prompting emergency measures that sparked environmental contamination allegations. The refinery, which processes bauxite into alumina using caustic soda, relies on residue deposits for bauxite tailings (red mud); during the event, power outages halted effluent treatment, leading Hydro to discharge pH-adjusted rainwater through an unlicensed drainage channel previously used for stormwater. Brazilian environmental agency IBAMA accused the company of illegal effluent discharge via a "clandestine pipeline" into Murucupi River springs, citing elevated levels of aluminum, sodium, and other substances in local water sources that exceeded safety limits. Hydro admitted the channel's existence but maintained it carried only treated rainwater, not industrial waste, and denied any overflow from residue deposit DRS2. Regulatory actions followed swiftly: On February 27, 2018, IBAMA imposed fines totaling BRL 20 million (approximately $6 million USD) on Alunorte for unlicensed operations and potential risks, while embargoing half its production capacity. A federal court ruling on February 28 reinforced this by mandating a 50% production cut and halting DRS2 operations until compliance verification. sampling by authorities detected and caustic residues in community areas, prompting claims of health impacts including skin lesions, respiratory issues, and higher cancer rates among residents, though causal links to Alunorte remain contested. A 2018 state parliamentary attributed historical environmental damage in Barcarena partly to refinery practices, including prior management flaws. Independent investigations, including those by consultancies like SGW Services and universities such as the Federal University of Pará, concluded in April 2018 that no residue overflow occurred and that levels were not attributable to Alunorte's operations, attributing some anomalies to geological baselines or unrelated sources predating the refinery. IBAMA and state agency SEMAS later corroborated the absence of deposit breaches via site inspections. Hydro responded by investing over $300 million in upgrades, including a filter press system for dry residue stacking to minimize liquid waste, and signing a Term of Adjusted Conduct (TAC) with authorities for ongoing monitoring. Production embargoes were progressively lifted, with full operations resuming by late 2019 after court approvals. Litigation persists: In , approximately 40,000 Barcarena residents filed a class-action suit in a Dutch against Hydro, alleging toxic exposure from alumina processing residues caused widespread health harms; plaintiffs reference the 2018 event and demand compensation, while Hydro denies responsibility, citing cleared investigations and parallel Brazilian proceedings. Earlier incidents at Alunorte, such as a tailings pipe rupture, have fueled broader criticisms of residue handling in Brazil's humid climate, though the company emphasizes compliance with evolving dry disposal standards post-2018. At the upstream Paragominas bauxite mine, environmental concerns center on and residue transport rather than acute spills, with Hydro reporting biodiversity restoration efforts but facing scrutiny over supply chain links to Barcarena impacts.

2019 Ransomware Cyberattack

On March 19, 2019, Norsk Hydro, a major aluminum producer, suffered a ransomware attack using the LockerGoga malware, which encrypted files across its global IT infrastructure. The attack originated from an infected email opened by an employee, purportedly from a trusted customer, with initial access possibly dating back to December 2018 but escalating in March. It rapidly spread, affecting approximately 35,000 computers and thousands of servers across 40 countries, disrupting the company's central management systems. The incident severely hampered operations, particularly in the Extruded Solutions business area, where production halted at multiple plants in and the , leading to significant output reductions. Other segments, including & Alumina, Primary Metal, Rolled Products, and , continued near-normal activities through manual workarounds and paper-based processes, though overall efficiency suffered. At its 170 facilities worldwide, some aluminum production lines were idled temporarily, forcing reliance on offline methods to maintain and compliance. Norsk Hydro declined to pay the , opting instead to isolate infected systems, restore from backups, and rebuild under enhanced security protocols. Recovery involved 24/7 collaboration with internal teams and external experts, including Microsoft's Detection and Response Team (DART), which provided forensic analysis and remediation support. Full system restoration took several months, with operations gradually resuming through phased cleanups and verifications; by mid-2019, most functions had stabilized, though complete normalization extended beyond three months. The total financial impact was estimated at around 800 million Norwegian kroner (approximately $71–75 million USD), encompassing lost production, remediation costs, and related expenses, with initial weekly losses exceeding 300–350 million kroner. In response, the company restructured its cybersecurity organization for improved threat detection and incident handling, emphasizing the value of robust backups and transparency in sharing lessons with other industries to deter similar attacks.

Geopolitical Operations and Sanctions Compliance

Norsk Hydro maintains a comprehensive compliance framework that includes adherence to sanctions, as outlined in its and ethics policies, which emphasize monitoring and full compliance with applicable national and international restrictions. The company commits to measures and trade sanction protocols across its global operations, with dedicated systems for and employee training. In response to Russia's invasion of on February 24, 2022, Norsk Hydro announced on March 2, 2022, that it would not enter into any new contracts linked to Russian producers until further notice, citing the geopolitical and ensuing Western sanctions. By March 31, 2022, the company further reduced its existing contractual commitments with Russian counterparts while pledging to monitor and comply with all current and future sanctions imposed by entities such as the and . These measures extended to its subsidiary Hydro Rein, which explicitly prohibits dealings violating sanctions in its operational guidelines. Hydro escalated its stance on Russian aluminum imports, a sector not initially targeted by broad Western sanctions despite Russia's significant global production share. On September 6, 2022, a key Hydro division supplying aluminum to automotive and industries excluded Russian metal from all 2023 purchase deals, effectively banning such sourcing. By October 25, 2022, Hydro publicly advocated for and sanctions on Russian primary aluminum to curb indirect support for Russia's , noting ongoing considerations for restrictions at that time. As a result, by 2023, Hydro reported no remaining business relationships with Russian entities. No verified instances of sanctions violations by Hydro have been documented in public records, aligning with its proactive divestment from Russian-linked activities amid broader industry shifts away from Moscow's aluminum exports, which faced scrutiny for evading indirect sanctions through third-country rerouting. The company's actions reflect Norway's alignment with and partners, prioritizing over short-term sourcing from sanctioned origins.

Environmental Performance

Sustainability Initiatives and Emissions Reductions

Norsk Hydro has committed to achieving net-zero across its by 2050, with interim targets of a 10% reduction by 2025 and 30% by 2030, measured against a 2018 baseline for Scope 1 and 2 emissions. The company's strategy emphasizes phasing out fossil fuels in operations, mitigating process-related emissions through technological advancements like inert anodes, and expanding to displace primary aluminum production, which accounts for the majority of sector emissions due to energy demands. Key initiatives include leveraging Norway's hydroelectric power for primary aluminum , enabling production with a as low as 3.5 kg CO2e per kg at the Technology Pilot, compared to the global primary aluminum average of approximately 14-16 kg CO2e per kg. Hydro's REDUXA branded low-carbon aluminum maintains a maximum of 4 kg CO2e per kg through sourcing and optimized processes. In , Hydro Alunorte refinery transitioned fuel sources to natural gas in 2024, yielding an annual CO2 reduction of 700,000 tonnes, with cumulative savings exceeding 1.4 million tonnes when combined with prior efficiency measures. To address upstream bauxite refining and downstream use, Hydro invests in and partnerships; for instance, collaborations with automakers like incorporate low-carbon aluminum to cut body-in-white emissions by up to 40%. Additionally, a $45 million with Rio Tinto explores for smelter emissions, targeting integration by the late 2020s. These efforts align with broader goals to increase recycled content, with products like those supplied to aiming for at least 75% recycled aluminum by 2027-2028. Progress reports indicate on-track performance toward the 2030 target, though full verification depends on sustained technological deployment and energy transitions.

Regulatory Compliance and Criticisms

Norsk Hydro operates under stringent environmental regulations in and the (EEA), including compliance with the Emissions Trading System ( ETS) for its reporting and allowances. The company participates in annual monitoring, reporting, and verification processes as required by the ETS Directive, covering approximately half of 's emissions in relevant sectors, with Hydro's aluminum production benefiting from low-carbon hydroelectric power to meet reduction targets. Hydro's internal compliance system includes structures, risk assessments, and a 24/7 reporting hotline to address potential violations of laws and regulations. Despite these measures, Hydro has faced regulatory scrutiny and penalties for environmental non-compliance in its international operations. In February 2023, Hydro Extrusion USA Inc., a , pleaded guilty to criminal charges in the U.S. District of for violating the Clean Air Act by failing to adhere to permits at its Springfield facility, resulting in excess emissions of volatile organic compounds and particulate matter; the company was fined $488,500 and required to implement . This incident highlighted lapses in permit compliance at older North American plants, though Hydro stated it had since upgraded monitoring and controls. Criticisms from environmental advocacy groups and local communities have centered on Hydro's bauxite refining and practices, particularly allegations of inadequate tailings containment and discharge leading to and . Independent investigations and rulings have substantiated some claims, such as a 2024 Brazilian federal conviction of Hydro's Alunorte for environmental crimes related to river pollution, imposing fines totaling over R$53 million (approximately $10 million USD). These cases underscore challenges in maintaining uniform compliance across global sites, where local enforcement varies, prompting Hydro to enhance and third-party audits, though skeptics argue such responses often follow incidents rather than preventing them.

Achievements and Economic Impact

Technological Innovations and Market Leadership

Norsk Hydro has advanced through its HAL4e technology, deployed in the 75,000-tonne-per-year pilot plant in since 2018, which reduces energy consumption by 15% relative to global averages and limits CO2 emissions to 4 kg per kg of aluminum produced, far below the industry benchmark of 16-18 kg. This hyper-efficient process leverages renewable and optimized cell design, verified through a two-year internal testing program completed in 2021. The company is pioneering HalZero inert anode technology, which replaces traditional carbon anodes to eliminate direct CO2 emissions from electrolysis, emitting only oxygen while enabling carbon capture and recycling, as part of a multi-stage decarbonization roadmap targeting net-zero primary aluminum production by 2050. In June 2023, Hydro achieved a milestone by producing the world's first primary aluminum using green hydrogen as a reducing agent in demonstration trials. Complementary innovations include Hydro CIRCAL, a recycling process incorporating 75% post-consumer scrap to cut lifecycle emissions, and a patented method for secondary aluminum production from scrap using carbon-containing fuels for thermal processing. In January 2025, Hydro partnered with Rio Tinto to invest $45 million in technologies tailored for aluminum , aiming to further abate indirect emissions. These efforts underpin Hydro's market leadership in low-carbon aluminum, where its primary smelters maintain a 20th cost position globally, supported by access to low-cost and efficient operations. The company shapes industry standards through expanded circular and low-emission solutions, securing premium contracts in and automotive sectors, as evidenced by collaborations like supplying with aluminum reducing lifecycle CO2 by up to 40% versus conventional material.

Contributions to Norway's Industrial Development

Norsk Hydro, established in 1905 by engineer Sam Eyde and physicist Kristian Birkeland, spearheaded Norway's entry into the electrochemical industry by exploiting the country's vast hydroelectric resources to commercialize the Birkeland-Eyde arc process for fixing atmospheric nitrogen into . Production commenced at the facility in 1907, marking the world's first industrial-scale output of nitrogen-based and enabling the conversion of renewable into exportable goods, which catalyzed rural industrialization in county. By constructing Europe's largest plant at that same year and developing the Rjukan site with its dedicated railway opened in 1909, the company transformed remote valleys into industrial centers, fostering infrastructure, employment, and technological expertise that laid the foundation for Norway's modern manufacturing base. The Rjukan- complex, inscribed as a in 2015, exemplifies this pioneering use of waterfalls like Rjukanfossen for energy-intensive processes, which supported output critical to national and global exports. Diversification into aluminum production began in 1915 with Norway's inaugural integrated smelter at Høyanger, capitalizing on low-cost to overcome the metal's high energy demands and positioning the country as a competitive global supplier. This sector expanded significantly post-World War II under partial , with major facilities like the aluminum plant and Røldal-Suldal hydroelectric scheme opening in 1967, enhancing export revenues and technological self-sufficiency in light metals. By the , acquisitions such as Årdal og Sunndal Verk in 1986 solidified Hydro's dominance, contributing to Norway's shift from agrarian dependence toward a resource-processing reliant on advantages. Hydro's ventures into oil and gas from 1963, including participation in the 1969 Ekofisk discovery on the Norwegian continental shelf, amplified industrial synergies by funding further and metals expansions, with company revenues surpassing NOK 60 billion and employment reaching 42,000 by 1990. These developments not only generated wealth through state-industry collaboration but also introduced innovations like the eight-hour workday in at key plants, promoting labor standards amid rapid growth. Overall, Hydro's integration of with exemplified causal linkages between natural endowments and value-added industry, driving Norway's GDP expansion and regional equity without overreliance on raw resource exports.

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